Hi guys

First post here, hope you can help?.

I took out a secured loan with welcome in 2005 but went bankrupt in 2006.

Have only had 6 monthly letters saying that we were in arrears until a month ago when we received a default notice giving us 2 weeks to pay arrears of £16000.

Now like most people we do not have £16000 lying around in fact I have only 6 weeks ago got back into work after almost a year out

and was on jury service when they sent the letter so didnt really have time to do anything about it.

Now we have received a letter from Incasso debt collectors demanding we pay £33476 which apparently is the overdue amount not a redemption figure!!

Have not been able to find any paperwork after all this time of inactivity but I do know that the original loan was around the £20000 mark.

Now being desperate at the time(I had just had a potential joint buisness venture come crashing down at the last minute

and tried to borrow enough to do it on my own having just quit my job in preparation to start the buisness, but ultimately lost out on that to)

they were bending all sorts of rules like overstating my wages without even asking, saying that we didnt earn enough to get a loan then upping the loan required and I dont remember sending any wageslips either!!

Could anyone give me any advice on what we should do now?? Could really do with some.

Thanks in advance

Hi carn

Welcome to CAG

The guys will advise as soon as they are available.

Morning guys

Just wondering if anyone has had a chance to read my post and can offer any advice?

Many thanks

Hi again i really dont want to seem a nuisance but i only have a couple of days before the 7 days are up with dca

could really do with some advice as soon as anyone is able to help, as working 12 hour shifts for the next 2 days so wont have access to here til late evening.

Anyone please?

cant have read very much yet...........

whats the first rules about DCA's...........

they can do nowt to you they have NO LEGAL POWERS.

ignore them and stop worrying about them

now i've put some line breaks in your msg so's we can easily understand it now........

ok std questions you read we ask..........

when was YOUR last paymentyou actually made

have you SAR'ed welcome yet

as i bet 99% is unlawful charges & 'forced' insurancs that you had to takeout to get the loan - those you can all reclaim.

dx

ignore the tame dca - fleecing agaents.

Thanks for replying dx.

I dont actually know exactly when the last payment was made but as i said in original post we went bankrupt in May 2006 so it would have been before then, in fact we went bankrupt approx 8-9 months after getting the loan.

No have not SAR'ed them as i just havent had time since receiving the default notice with jury service and work.

How do I go about that, I did click on the SAR link but its all sorts of news or did I miss something?

Its Incasso debt recovery solicitors that have now given us 7 days to reply and I read on here in another post that they are pretty hot.

So should i respond or ignore them as it says failure to pay or make contact may result in legal proceedings, also the default notice mentioned getting a attachment to earnings order.

they cant default notice you 5yrs on.

have you looked at your cra file yet?

and why was the loan not under the bk?

you pointed to a word they used too... may!, if, could, might, instructed.........get the idea?

look at it this way...if the OC wanted their money ...why nowt fromthemin 5yrs?

simple they wrote it off against tax or it was covered under your BK...

dx

dx

No I havent checked credit file since we went bankrupt, didnt seem much point before. If I remember rightly it couldnt be included in bankruptcy as its secured on the house and as we were and still are in negative equity by a long way our house was not touched and weve managed to keep the mortgage going on it.

So what would you suggest we do now, the house phones been ringing a lot but havent answered as each time i check the number its not been left so have assumed they are trying to get hold of me.

what should we do about Incasso as like I said ive read on here they are hoton this sort of thing and only have a day left?

Welcome did initially keep trying to get us to pay after BK but we simply werent in a position to do anything and they just stopped contacting apart from 6 monthly letters saying we were in arrears?

I do appreciate your help dx

Bump

so how do you know you've been defaulted

get the cra file.

its your money you call the shots

not some tinpot dca/tame solicitor that have no legal powers.

as i bet 99% is unlawful charges & 'forced' insurancs that you had to takeout to get the loan - those you can all reclaim.

get moving

if you dont have all the details

time for an sar

dx

I was sent a default notice from welcome dx but like a lot of people on here it just said 14 days from date of letter and there was no name or signature of whom I was supposed to respond to. Then I got the letter from from Incasso

Ok ill get a sar off and get credit file.

So do I not respond to anyone until Ive got those details?

Hi I posted a few days ago regarding wot to do about default notice and letter from Incasso debt recovery solicitors and received advice to SEND A sar request.

This debt is over 5 years old so would this contact count as contact preventing the debt becoming statute barred after6 years??

Also is there anything i can do about the way in which we were allowed the loan as in the guy on the phone stated that our wages were not enough to allow it so he said if he 'adjusted' our wage/salarys that that would enable us to get a bigger loan than what were were actually applying for and we didnt need to submit wageslips etc??

Any advice ??

Are you in england or scotland

the only way of reseting the statute barred clock would be by letter acknowleging the debt or by making a payment

telephone contact does not count

when was the last payment made

Hi thanks for responding so quickly post, Isaw you were on so was hoping you would reply.

Im in England. so a SAR request wouldnt count?

Im not too sure when the last payment was made but it was taken out approx September 1995 and we went bankrupt in May 2006

It couldnt be included as it was secured on the house and as we were and still are in very negative equity we were allowed to keep the house and we have made no payment since before we were bankrupt.

is there nothing we can do about the way in which we were sold the loan?

Hi, carnalpleasureuk.

I've merged your threads, lets post know what the score is regarding your problem and what sort of replies you've already had, It's always better sticking to one thread.

Regards.

Scott.

Ok thanks Maroodevo52 apoligies

what did the official receiver say about the house

has the official receiver any claim on the house now

have you sent incasso a cca request and has the loan been sold to them or are they just collection on behalf of welcome

have you ever had a notice of assignmemnt ref sale of the account

The receiver said that as we were in negetive equity that there was no point in trying to use it to pay debts. Im not to sure what the situation is now regarding the receiver as havent had anything from them for a long time so i guess we would have to contact them.

The Incasso letter says they are instructed by thier client(wfs)to contact us in relation to the amount and that we had 7 days to contact them.

As far as im aware weve never had a notice of assignment?

And no havent sent them a cca as trying to find out the best course of action beofre we do anything

The Incasso letter also says that all correspondence and payments in relation to this debt must be addressed to them and their client

so they are just using incasso to bully you

tell them to sod off if they ever contact you and

IGNORE

What, do you mean that we should do nothing at all?

They said that they could get an attachment of earnings or start legal proceedings?

We arent in the statute barred position though?

How can they get an attachment of earnings, baliffs, hang draw and quarter when there has been no county court claim yet

incasso can do nothing as they dont own the account, welcome still do

i need to see that letter from incasso as they have committed an offence under c.p.u.t.r

do you have a scanner

No but I can type it on here if it will help?

Dx suggested i get a cra file to see excatly what the situation is regerding them as we have ignored their correspondance because we havent been in a position to anything about it?

Please do

word for word minus personal details

also, check with the official receiver if they have any claim on the house

REGISTER FOR CREDIT EXPERT FROM EXPERIAN

IT WILL GIVE FREE ACCESS FOR 30 DAYS

JUST CANCEL WITHIN DAYS AND YOU WILL BE OK

We arent in the statute barred position though?

This is unlikely to be of any use as the loan is secured to the property. it's an interesting situation for sure.

Did you list the secured loan on the bankruptcy petition?

If so then it's likely if Welcome did try to repossess you any shortfall would be extinguished as part of the bankruptcy.

Outstanding balance £33,476.32

We have been instructed by our client to contact you directlyin relation to the above outstanding balance. This balance is the overdue amount under the terms of the agreement, it is not a redemption figure. If you would like a redemption figure please contact us 0845 404 1801.

Payment should be submitted in full to reach us within the next 7 days or contact made with this office immediately by calling 0845 404 1801.

We will endeavour to assist you in any way possible to clear your outstanding debt, however this can only be acheived with your full co-operation.

You can pay using our secure online payment facility by visiting http://www.pay incasso.com or by credit or debit card by calling 0845 404 1801. Alternatively, your cheque should be sent to usmade payable to Incasso LLP with our reference ofWELCOME/XXXXXXXX quoted on the back of the cheque

All correspondance and payments in relation to this debt must be addressed directly to ourselves and not to our client.

Failure to make payment or to contact our office may result in legel proceedings being issued against you.

Free independant advice and assistance can be obtained from organisations listed on the back of this letter.

Re sequenci

the mortgage and welcomes secured loan is on there but im sure the receiver said that they couldnt be included as part of the bankrupcty

Failure to make payment or to contact our office may result in legel proceedings being issued against you

SAYS IT ALL

MIGHT, CAN, MAY

AS STATED, IGNORE BUT CONTACT THE OFFICIAL RECEIVER ABOUT THE STATUS AND ANY/IF ANY CLAIM IS STILL ON THE HOUSE

DO THE EXPERIAN 30 DAY FREE TRIAL TO SEE IF THE LOAN IS UNDER WECLOME

Re sequenci

 

the mortgage and welcomes secured loan is on there but im sure the receiver said that they couldnt be included as part of the bankrupcty

They are not included whilst they are secured debts. If Welcome try to repossess any shortfall would be written off as part of the bankruptcy at that point (if it ever happens). To cut a long story short Welcome are caught between a rock and a hard place.